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Indian Overseas Bank revises upwards its Fixed Deposit Rates
Posted on: 06/Apr/2018 12:22:48 PM
Indian Overseas Bank a leading public sector banks in Southern India has hiked interest rates on its fixed deposit (FDs) across various tenures by 10-80 basis points (bps) effective from April 5, 2018. IOB has hiked rates for tenures ranging from one week to 5 years and above, upto less than Rs 1 crore and will now earn between 4.5 percent and 6.8 percent.
The senior citizens will continue to have additional rate of 0.50 percent. The interest rate for IOB tax saver deposit stands at 6.8%. There has been no revision on the interest rates for the NRE deposits.
Below is the table indicating the interest rates across various tenures:
|
Period of Deposit |
New Rate (%) effective from 05.04.2018 |
|
|
|
|
Up to less than Rs 1 Crore |
|
|
|
7-14 days* |
4.50 |
|
|
|
15-29 days |
4.50 |
|
|
|
30-45 days |
4.50 |
|
|
|
46-60 days |
4.60 |
|
|
|
61-90 |
4.60 |
|
|
|
91-120 |
5.25 |
|
|
|
121-179 |
5.50 |
|
|
|
180-269 |
5.75 |
|
|
|
270 days < 1 year |
6.25 |
|
|
|
1 years to < 2 years |
6.60 |
|
|
|
|
|||
|
2 years to < 3 years |
6.75 |
|
|
|
3 years and above |
6.8 |
||
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